Abivax (NASDAQ:ABVX) Trading Up 9.3% on Analyst Upgrade

Abivax SA Sponsored ADR (NASDAQ:ABVX)’s share price was up 9.3% on Thursday after Truist Financial raised their price target on the stock from $135.00 to $155.00. Truist Financial currently has a buy rating on the stock. Abivax traded as high as $142.32 and last traded at $144.8360. 799,124 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 1,582,796 shares. The stock had previously closed at $132.56.

Several other research firms have also commented on ABVX. HC Wainwright reiterated a “buy” rating on shares of Abivax in a research report on Tuesday. Wolfe Research set a $136.00 target price on shares of Abivax in a report on Wednesday, June 3rd. Guggenheim restated a “buy” rating on shares of Abivax in a research report on Tuesday. Wedbush upped their price target on shares of Abivax from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Abivax in a research report on Monday, April 20th. Fourteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.00.

Abivax News Roundup

Here are the key news stories impacting Abivax this week:

• Positive Sentiment: Truist Financial raised its price target on Abivax to $155 from $135 and kept a buy rating, implying additional upside from current levels. Truist raises Abivax price target
• Positive Sentiment: The company’s updated obefazimod trial data eased earlier safety fears, with investors viewing the malignancy findings as consistent with background rates in ulcerative colitis, helping fuel a sharp move higher in the shares. Abivax shares jump as updated trial data eases safety concerns
• Positive Sentiment: Jefferies upgraded Abivax to buy from hold and lifted its target to $158, while Citizens JMP reiterated market outperform with a $187 target, reinforcing bullish sentiment around the stock. Jefferies and Citizens JMP updates on Abivax
• Neutral Sentiment: Abivax completed the upsized sale of ADSs, with gross proceeds now totaling about $920 million after underwriters fully exercised their option, strengthening the balance sheet but also increasing share count. Abivax offering gross proceeds update
• Neutral Sentiment: The company also resumed trading on Euronext Paris after a temporary halt tied to the offering process. Abivax trading resumption
• Negative Sentiment: The large public offering and expanded fundraising may pressure the stock over time by diluting existing shareholders, even though it reduces financing risk and helps support the company’s pipeline. Abivax public offering pricing

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. boosted its stake in shares of Abivax by 155.6% during the 1st quarter. GHP Investment Advisors Inc. now owns 230 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Abivax by 4,612.5% in the third quarter. EverSource Wealth Advisors LLC now owns 377 shares of the company’s stock valued at $32,000 after buying an additional 369 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Abivax by 661.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 396 shares of the company’s stock valued at $53,000 after buying an additional 344 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Abivax during the fourth quarter valued at approximately $61,000. Finally, WPG Advisers LLC boosted its position in Abivax by 125.9% during the fourth quarter. WPG Advisers LLC now owns 454 shares of the company’s stock worth $61,000 after acquiring an additional 253 shares during the last quarter. 47.91% of the stock is currently owned by hedge funds and other institutional investors.

Abivax Price Performance

The stock has a market cap of $11.55 billion, a price-to-earnings ratio of -27.66 and a beta of 0.88. The stock’s 50-day moving average is $111.39 and its 200-day moving average is $117.42.

Abivax (NASDAQ:ABVX) last issued its quarterly earnings results on Friday, May 22nd. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.23. The business had revenue of $1.56 million during the quarter, compared to analyst estimates of $0.40 million. Analysts predict that Abivax SA Sponsored ADR will post -3.4 EPS for the current fiscal year.

Abivax Company Profile

Founded in 2013 and headquartered in Paris, France, Abivax is a clinical-stage biopharmaceutical company focused on discovering and developing novel therapies for chronic inflammatory diseases and viral infections. The company’s technology platform targets host RNA biogenesis to modulate key immune pathways, offering a differentiated approach aimed at disease modification and improved safety profiles.

Abivax’s lead clinical asset, obefazimod (ABX464), is being evaluated in ulcerative colitis and other inflammatory disorders.